US Dollar Strengthens on Strong Jobs Report

The US dollar strengthened against major currencies on Friday following a robust Nonfarm Payrolls report that exceeded expectations, bolstering expectations for the Federal Reserve to maintain steady interest rates amid persistent inflation pressures and escalating Middle East tensions.

The Bureau of Labor Statistics reported that the US economy added 178,000 jobs in March, surpassing forecasts of 60,000, while the unemployment rate dipped to 4.3 percent from 4.4 percent. February's figure was revised downward to a loss of 133,000 jobs. Average hourly earnings rose 0.2 percent month-over-month, below the anticipated 0.3 percent, with annual growth slowing to 3.5 percent from 3.8 percent. The data, released ahead of the Good Friday holiday, reinforced views that the Fed will hold rates unchanged longer, as oil-driven inflation risks intensify due to the ongoing conflict involving Iran.

The GBP/USD pair slipped 0.12 percent to trade around 1.3205, extending losses for a second day in thin holiday trading. The British pound faced additional pressure from heightened geopolitical risks, including US President Donald Trump's statements vowing strong action against Iran and uncertainty...